Does having a 'six figure' salary mean what it used to mean?

[Anonymous]

I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

[Anonymous]

Nope

Over 200 here. Watch every dollar

[Anonymous]

Anonymous wrote:Nope

Over 200 here. Watch every dollar

+1. at 300, watch spending pretty closely too

[Anonymous]

Six figures were worth more back then. When I was saying "she makes six figures" I was making $14,000.

[Anonymous]

http://www.bls.gov/data/inflation_calculator.htm

[Anonymous]

Maybe if you live in a low COL area.

That being said, two married people making 6 figures each, have a great salary.

[Anonymous]

It depends on your debt. I make very low six figures, and I don't watch every penny. The only fixed debt I have is the mortgages.

I worked hard to get here, and it feels very comfortable to me.

[Anonymous]

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

It does everywhere except East and West Coast. When you can buy a 4,000 sf home in the best school district for under $400K, then yes, a six-figure salary means something. When you can only buy a shoebox with a less-than-impressive school - then no. Not so much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

It does everywhere except East and West Coast. When you can buy a 4,000 sf home in the best school district for under $400K, then yes, a six-figure salary means something. When you can only buy a shoebox with a less-than-impressive school - then no. Not so much.

yep. It's all relative. To a lot of people living in a 3rd world country, $40K/yr is a lot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

It does everywhere except East and West Coast. When you can buy a 4,000 sf home in the best school district for under $400K, then yes, a six-figure salary means something. When you can only buy a shoebox with a less-than-impressive school - then no. Not so much.

yep. It's all relative. To a lot of people living in a 3rd world country, $40K/yr is a lot.

I know what you are saying but that's not a fair comparison. COL at those countries are many, many times lower.

[Anonymous]

It is weird to commiserate openly about the cost of living with others making 200k, and not appreciate the struggles of people making 30k.

[Anonymous]

It is not weird, to not appreciate that some make $30K. That is the current trend in this country. I used to make $19K. And yet then, no one felt sorry nor appreciated my struggles. They couldn't give a shit, and, I understood that. Why should they have? Get real. Some people are only WORTH $30K. If that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

It does everywhere except East and West Coast. When you can buy a 4,000 sf home in the best school district for under $400K, then yes, a six-figure salary means something. When you can only buy a shoebox with a less-than-impressive school - then no. Not so much.

yep. It's all relative. To a lot of people living in a 3rd world country, $40K/yr is a lot.

I know what you are saying but that's not a fair comparison. COL at those countries are many, many times lower.

Not really. They just have lower housing expectations and such. If you want to recreate your life here (schools, houses, safety etc) it wouldn't be that much cheaper.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was contemplating this earlier today. I remember growing up it was an expression like, 'so and so got to six figures' as a big compliment. I make about 110k so just over the line but don't feel like I am THAT much better off than the people around me. It doesn't seem like it really means what it once did.

It does everywhere except East and West Coast. When you can buy a 4,000 sf home in the best school district for under $400K, then yes, a six-figure salary means something. When you can only buy a shoebox with a less-than-impressive school - then no. Not so much.

yep. It's all relative. To a lot of people living in a 3rd world country, $40K/yr is a lot.

I know what you are saying but that's not a fair comparison. COL at those countries are many, many times lower.

That's the point. Even in the US, the col varies widely from region to region. So, making $100K in SF, DC, NY (below median) is like making $40K (below US median) in Nebraska, assuming Nebraska has average col. Median US income is about $51k.

[Anonymous]

Anonymous wrote: It is weird to commiserate openly about the cost of living with others making 200k, and not appreciate the struggles of people making 30k.

Can we ever just live our lives without this constant self-flagellation?